Mar 17, 2021, 15:09 IST
Helsinki: Nokia, the tech giant in the field of wireless networking, has made a sensational decision. Nokia has announced that it would lay off 10,000 employees.
Nokia is planning major job cuts from 2021 through 2022. The communications and network equipment provider plans to shift spending from general areas to more R&D (research and development).
Nokia CEO Pekka Lundmark, on the job for a year, is striving to bolster the company for 5G wireless network contract bids and deployments Vs. rivals Ericsson and Huawei.
The Nokia layoff plan emerges less than one year after the company’s Alcatel-Lucent business laid off about 1,200 employees.